Amazon Lowers Food Prices At Whole Foods, Countering ‘Whole Paycheck’ Image


Austin-based Whole Foods Market is preparing for another round of price cuts.

Burt Flickinger III, managing director at Strategic Resource Group, a consulting company that specializes in retail and consumer products, and is based in NY, says his research into Whole Foods showed that the food retailer's prices had turned off so many shoppers that it was unable to sell produce at the same rate as competitors.

Amazon said the price cuts will focus on produce, and that it plans to double the number of Prime member deals to 300 per store.

Various April deals include 35 percent off all Justin's brand products, 20 percent off prepared sandwiches and wraps, and $2 off per pound of organic strawberries.

"Every time a customer walks into a Whole Foods Market, they expect and trust industry-leading quality standards across aisles", said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a statement. Amazon, which bought Whole Foods for nearly $14 billion in 2017, previously had boosted prices earlier this year because of inflation.

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Analysts like Gordon Haskett's Chuck Grom began to track Whole Foods' prices shortly thereafter and found that the reductions were more illusion than reality, he told The Post.

Whole Foods Market - the non-GMO, organic mecca of food shoppers who aren't on a budget - has said that it will cut prices on hundreds of items throughout their stores, again. New members can try Prime free for 30 days. The newspaper also reported the news of the current price cuts earlier Monday.

Whole Foods' "whole paycheck" nickname refers jokingly to the amount of one's paycheck that gets spent at the high-end food seller, known for its high-quality organic goods and fresh baked breads made from quinoa and flaxseeds.

Amazon acquired Whole Foods in an effort to catch Walmart Inc., Kroger Co. and Costco Wholesale grocery sales.